LabCorp Lands a Global CRO

In late July, Laboratory Corp. of America Holdings (NYSE: LH) announced the 6th CRO deal to surpass the $1 billion mark this year. The $1.2 billion deal for Chiltern is its third announced transaction this year, having acquired Mount Sinai’s Clinical Outreach Laboratories (January) and Pathology Associates Medical Laboratories, LLC (February). Despite activity in the Laboratory, MRI & Dialysis sector, LabCorp was on the hunt for a CRO target all year, but with little luck. Back in February, it was rumored that LabCorp was looking to buy Pharmaceutical Product Development, LLC for $8 billion. PPD ended up going to Hellman & Friedman LLC, a long time investor in the company,... Read More »

Pamplona Capital Wins Auction for PAREXEL

Pamplona Capital Management LLP, a New York-based private equity firm, has been on the hunt for a contract research organization (CRO) for the past year. According to a report from Reuters, it made an unsuccessful bid earlier this year for Pharmaceutical Product Development LLC, a U.S. clinical trials firm valued at more than $9 billion. On June 20, 2017, Pamplona bagged a different target. The firm announced its acquisition of PAREXEL International Corporation (NASDAQ: PRXL) in a going-private transaction. According to other reports, Parexel’s advisers initially accepted PE firm offers, but later opened up the auction to industry players as well. Pamplona outbid rivals including... Read More »

MedAssets-Precyse Adds Equation

Pamplona Capital Management is building out its healthcare data services. In November 2015, the firm spent $2.7 billion to acquire publicly traded MedAssets, Inc., which served four out of every five hospitals in the United States with technology-enabled financial products and services. Once it spun off the Spend and Clinical Resource Management segment to VHA-UHC Alliance (now called Vizient), MedAssets’ Revenue Cycle Management segment with Precyse, another portfolio company, to offer end-to-end RCM and HIM solutions. Now MedAssets-Precyse, as it’s known, is adding Equation, a Utah-based financial and clinical healthcare analytics and consulting company. Now that... Read More »

MedAssets Acquired and Split Up

Pamplona Capital Management, a New York-based investment group, announced its acquisition of MedAssets, Inc. (NASDAQ: MDAS) for $2.7 billion. MedAssets provides technology-enabled products and services for hospitals, health systems, non-acute healthcare providers, payers and other service providers. The price of $2.7 billion represents $31.35 per share. Pamplona already has an agreement in place to divest MedAssets’ Spend and Clinical Resource Management segment to VHA-UHC Alliance for an undisclosed price. VHA and UHC merged earlier this year to form the largest member-owned health care company in the United States. That leaves Pamplona Capital with MedAssets’ Revenue Cycle... Read More »